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    Daniel Jones • Stifel Financial Corp.

    Daniel Jones is an experienced financial analyst at Stifel Financial Corp., holding over 35 years in the investment industry and serving clients with tailored market strategies. As a senior advisor, he specializes in navigating diverse market environments and helping clients achieve their financial objectives, with a focus on consistency and personalized advice. Jones began his investment career more than three decades ago and joined Stifel to offer high-level expertise after amassing extensive industry experience. He is registered with FINRA and maintains required securities licenses pertinent to his advisory role.

    Daniel Jones's questions to Western Midstream Partners LP (WES) leadership

    Daniel Jones's questions to Western Midstream Partners LP (WES) leadership • Q1 2025

    Question

    Daniel Jones of Stifel Financial Corp. inquired about the key drivers of Western Midstream's financial and operational performance during the first quarter.

    Answer

    Executive Kristen Shults highlighted a strong quarter with adjusted EBITDA of $594 million and free cash flow of $58 million. She noted that while gross margin decreased slightly due to lower throughput and a Q4 revenue adjustment, operating expenses also declined. Shults confirmed a 4% distribution increase to $0.91 per unit and mentioned that gas and oil volumes decreased slightly due to normalization in the DJ Basin.

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